By the end of 2033, the global microcontroller market is expected to grow from its present value of US$ 25.29 billion to US$ 73.12 billion at a CAGR of 11.2%.
Microcontrollers are compact, self-contained computer systems that manage electronic devices and carry out specialized tasks. On a single chip, they are integrated circuits (ICs) that include a microprocessor, memory, and I/O peripherals. In embedded systems, which are computer systems focused on carrying out a specific task within a larger device or system, microcontrollers are frequently used.
From 2016 to 2020, the market experienced a robust CAGR worth 11.1%. As the COVID-19 pandemic unfurled, prospects contracted significantly in the automotive industry, given the fall in global output in the first half. However, uptake remained high across the medical industry, with healthcare providers leveraging advanced technological solutions to streamline workflows.
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Future development prospects heavily rely on widespread adoption in the automobile sector. Consumers are concentrating on buying luxury conventional and hybrid-electric vehicles with improved powertrains as global auto ownership is predicted to increase. Additionally, carbon emission-reducing automobile technologies are becoming more and more popular, expanding the use of suitable microcontrollers.
Key Takeaways from the Market Study
- With a CAGR of 9.5%, North America is the market with the quickest growth.
- The European market is anticipated to expand at a CAGR of 5% over the forecast period.
- Asia is expected to be a promising market, with a 6% CAGR through 2031.
- 16-bit microcontrollers will command the biggest market share and generate 49% of all sales.
- With a 30%+ revenue yield, the automotive industry will continue to be the principal application area.
“Microcontroller industries are reinforcing their commitment towards sustainability, prompting them to undertake internal renovation activities, impelling deployment of insulating and energy saving microcontrollers,” says a Fact.MR analyst.
Key Segments Covered
Product Type
- 8-bit Microcontroller
- 16-bit Microcontroller
- 32-bit Microcontroller
Application
- Automotive Microcontroller
- Consumer Electronics Microcontroller
- Industrial Microcontroller
- Medical Devices Microcontroller
- Military & Defense Microcontroller
How are Increasing Hybrid Electric Vehicle Sales Encouraging Demand for Microcontrollers in North America?
According to Fact.MR, the market for microcontrollers is anticipated to surge at a robust 9.5% CAGR until 2031. Growing popularity of electric, hybrid, and self-driving vehicles is the primary reasons for enhanced market growth across the continent.
The U.S Department of Energy estimates that the fleet of hybrid electric vehicles in the U.S, is the 2nd largest, with 5.8 million units sold as of December 2020. As of Q1 2021, sales of electrified vehicles surged 81%, with combined sales of EVs, hybrid and plug-in hybrids surpassing 300,000.
With this ever-increasing scope, manufacturers are introducing the most advanced and well-equipped microcontroller units. For instance, Cypress Semiconductors offers the TraveoTM 32-bit Arm Automotive Microcontrollers for ensuring cutting-edge performance, safety and security features.
Competitive Landscape
Prominent manufacturers are focused on introducing new product lines, with added new and diverse features. Furthermore, strategies such as collaborations and acquisitions are also sought after. Notable developments in the industry are as follows:
- In October 2020, Infineon Technologies launched the TraveoTM II Body microcontroller family for next-generation vehicle electronic systems. The product line aims to address a broad variety of automotive applications, including body control modules, door, window, sunroof and seat control units
- In January of 2021, Microchip Technology introduced AVR® microcontrollers (MCUs). They are a good choice for a range of embedded system designs because they provide unrivaled performance, power efficiency, and adaptability. Because of their highly adjustable peripherals and the industry’s most code-efficient architecture, they can bring numerous functions to a single chip with minimal programming.
Country-wise Insights
What Supports the United States’s Supremacy in the Global Market?
By 2033, it is anticipated that the US microcontroller market would be worth US$17.76 billion.
Microcontroller demand has increased as a result of the Internet of Things. For Internet of Things (IoT) devices, microcontrollers offer compact, low-power, and affordable computing solutions. Due to a surge in IoT applications across industries, including industrial automation, home automation, smart healthcare, and smart cities, the need for microcontrollers has increased in the United States.
The automotive industry makes extensive use of microcontrollers for a range of applications. For engine management, entertainment systems, safety features, ADAS, and other tasks, modern vehicles use a lot of microcontrollers. Due to growing demand for electric vehicles, autonomous driving technology, and connected car features, microcontrollers are in high demand in the US automotive industry.
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Key Companies Profiled:
- Texas Instruments Incorporated
- Fujitsu Semiconductor Limited
- Cypress Semiconductor Corporation
- Infineon Technologies AG
- Microchip Technology Inc.
- NXP Semiconductors
- Renesas Electronics Corporation
- STMicroelectronics
- TE Connectivity Ltd.
- Yamaichi Electronics Co. Ltd.
- Zilog Inc.
Key Points Covered in Microcontroller Industry Analysis
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Conditions
- COVID-19 Impact on Microcontroller Market and How to Navigate
- Recommendation on Key Winning Strategies
Category-wise Insights
In terms of sales, the automotive segment is projected to dominate the market, accounting for 30.5% revenue until 2031. This high share is due to increased demand for MCUs for greater automotive safety features, convenience functions and entertainment systems. Because of the Advanced Driver Assistance System (ADAS), this application sector is also predicted to increase significantly.
Image sensors are used in ADAS technology to increase driver safety by providing features like lane departure warnings, parking assistance, and collision avoidance systems. Stringent regulatory standards aimed at increasing road safety for drivers and pedestrians are projected to fuel growth even further.
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